By the end of 2022, Future Market Insights projects that the market for bile collection bags will reach a value pool of US$35 billion. Bile collection bag sales are anticipated to grow at a CAGR of 5.5% between 2022 and 2032. The global market is anticipated to reach a market worth of US$ 60 billion by the end of the assessment year.
Bile drainage is the main application for bile collecting bags. A catheter is inserted into the liver during bile drainage to empty the bile. In diagnostic centres and pathology labs, bile collection bags are frequently made of plastic and elastomers.
Bile collection bags are mainly used for the process of bile drainage. Bile drainage involves the insertion of a tube in the liver to extract the bile juice. Bile collection bags are used across diagnostic centres and pathology labs and are usually made of plastic and elastomers. Apart from the bile juice, they are also used for the collection of gastric secretions. Bile collection bags market is expected to grow over the forecast period due to rising prevalence of liver related disorders. The growth of the global bile collection bags is also expected to expand due to growing demand for laparoscopic cholecystectomy.
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Global Bile Collection Bags Market: Dynamics
Since there is a rising prevalence of chronic diseases worldwide, the global bile collection bags market is expected to be driven by the high demand in surgical procedures. Bile collection bags facilitate the easy collection of bile and other gastric secretions which is further anticipated to bolster the demand of the global market. Additionally, the increase in the geriatric population globally is also leading to surging demand for bile collection bags market. Moreover, the government of emerging economies is providing the facility of an easy access to the bile collection bags which is expected to open up new market opportunities for growth of the global bile collection bags market.
The growth of the global bile collection bags market is hampered by an increased risk of cross contamination and strict government regulations concerning the efficacy and safety of these bags is expected to hamper the growth of the global bile collection bags market. High taxation on the healthcare devices is also expected to restrain the growth of the global bile collection bags market. Use of raw materials that are rendered safe for environment is expected to open up new avenues of market growth for the global bile collection bags market.
Global Bile Collection Bags Market: Regional Outlook
The global bile collection bags market is segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. North America is expected to lead the global bile collection bags market attributed to a well-established healthcare industry along with a health concerned population base. . Asia Pacific bile collection bags market is expected to expand at the highest CAGR over the forecast period due to rising technological innovations among the healthcare organizations in the region.
Economy like India in the APAC region represents a high number of liver related disorders wherein the bile collection bags are expected to find their maximum consumption. Europe bile collection bags market is expected to witness moderate growth over the forecast period. The region is expected to grow at a slow pace as compared to Asia Pacific due to down turning economy in certain regions. Middle East & Africa is expected to witness sluggish growth due to comparatively low GDP and a low percentage of healthcare expenditure.
Global Bile Collection Bags Market: Key Players
Some of the key players operating in the global bile collection bags market are Hyupsung Medical Co., Ltd., C. R. Bard, Inc., Medline Industries, Inc., Baxter International Inc., Fresenius Medical Care AG & Co., and Redax.
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